Global Single-arm Medical Pendant Market Size (2024 - 2029)

The single-arm medical pendant market is anticipated to experience growth driven by factors such as the increasing demand for minimally invasive surgeries, rising hospital numbers, and enhanced government spending on healthcare. The COVID-19 pandemic significantly influenced the market's expansion due to the heightened need for medical pendants in critical care settings. Additionally, investments in medical infrastructure and strategic initiatives by market players are expected to further propel the market. Despite these growth drivers, the high cost of medical pendants may pose a challenge to market expansion.

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Market Size of Global Single-arm Medical Pendant Industry

Market Snapshot
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.30 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Global Single-arm Medical Pendant Market Major Players

*Disclaimer: Major Players sorted in no particular order

Single-arm Medical Pendant Market Analysis

The single-arm medical pendant market is poised to grow at a CAGR of 6.3% during the forecast period (2022-2027).

The COVID-19 pandemic was an unprecedented health concern and had impacted the growth of the studied market due to government-imposed lockdown, and cancellation of nonessential surgeries. For instance, as per the World Economic Forum Organization data, published in May 2020, approximately 28 million elective surgeries were canceled during the 12 weeks of the COVID-19 outbreak. As a result, patient visits to hospitals and ambulatory centers were severely disrupted, ultimately impacting the usage of medical pendants within healthcare settings. However, the World Health Organization's guidance update in June 2020 demanded that countries strengthen their healthcare systems and health security amid the pandemic. This resulted in the upgrading of several equipment in medical facilities due to increased demand for single-arm medical pendants in intensive care units (ICUs) and critical care units (CCUs) for the care of COVID-19 patients. Thus, COVID-19 significantly impacted the growth of the market.

Factors such as the increasing number of minimally invasive surgeries and the rising number of hospitals coupled with increasing government spending are expected to majorly drive the growth of the market. For instance, as per the Organization for Economic Co-operation and Development (OECD) 2021 statistics, there were 394,485 cataract surgical procedures performed in the year 2020 in Turkey. Thus, such a high number of surgical procedures is likely to increase the demand for single-arm medical pendant systems, thereby contributing to market growth.

Additionally, the increasing investment in hospitals and medical equipment is anticipated to further propel the single-arm medical pendant market. For instance, the India Brand Equity Foundation 2021 report stated that under Union Budget 2019-2020, the government allocated INR 800 crore (USD 110.88 million) for the up-gradation of state government medical colleges and district hospitals and INR 1,361 crore (USD 188.63 million) for government medical colleges and government health institutions. Also, according to the same source, there has been a rise in foreign direct investment (FDI) in hospitals and diagnostic centers. The FDI in the hospital sector was USD 7.03 billion and USD 2.17 billion in diagnostic centers, respectively, between April 2000 and December 2020. Such investments are expected to increase the adoption of single-arm medical pendant devices over the forecast period.

Furthermore, the strategic initiatives taken by the market players are also expected to drive the growth of the market. For instance, in October 2020, STERIS plc signed a definitive agreement to purchase Key Surgical, a portfolio company of Water Street Healthcare Partners, LLC, for USD 850 million. The acquisition of Key Surgical complements and expands the consumable product portfolio for STERIS's customers in sterile processing departments, operating rooms, and endoscopy. Such an acquisition is expected to boost the growth of the market.

Therefore, due to the above-mentioned factors, the market is expected to grow over the forecast period of the study. However, the high cost of the medical pendant may impede the growth of the market over the forecast period.

Single-arm Medical Pendant Industry Segmentation

As per the scope, the single-arm medical pendant is a rotary medical pendant, which is an indispensable gas supply medical device in the modern operating room of the hospital. It is mainly used for the terminal transfer of oxygen, suction, compressed air, nitrogen, and other medical gases in the operating room. The medical pendant is mainly controlled by the motor to lift the platform, which is safe and reliable. It is also used for placing monitors, electric knives, equipment, etc., which are required for general surgery. The Single-arm Medical Pendant Market is segmented by Application (Surgery, Anesthesia, Endoscopy, and Others), End User (Hospitals, Clinics, and Other End Users), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the value (in USD million) for the above segments.

By Application
Surgery
Anesthesia
Endoscopy
Others
By End User
Hospitals
Clinics
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of World
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Global Single-arm Medical Pendant Market Size Summary

The single-arm medical pendant market is experiencing a positive growth trajectory, driven by several key factors. The market's expansion is supported by the increasing number of minimally invasive surgeries and the rising number of hospitals, alongside heightened government spending in healthcare. The COVID-19 pandemic initially disrupted market growth due to the cancellation of elective surgeries and reduced patient visits. However, the subsequent demand for upgraded medical equipment in intensive care units and critical care settings has bolstered the market. Strategic initiatives by market players, such as acquisitions and investments in medical infrastructure, are further propelling the market's growth. Despite the high cost of medical pendants posing a potential challenge, the market is expected to continue its upward trend over the forecast period.

Regionally, North America is anticipated to dominate the single-arm medical pendant market, attributed to its advanced healthcare infrastructure and the presence of key market players. The high prevalence of chronic diseases in the region is driving the demand for surgical procedures, thereby increasing the need for medical pendants. The anesthesia segment is projected to lead the market due to the rising number of anesthesia procedures globally, fueled by the growing burden of chronic diseases. The market is moderately consolidated, with major players like Dragerwerk AG & Co. KGaA, Brandon Medical Co. Ltd, and Steris PLC holding significant market shares. These companies are actively participating in industry events and strategic acquisitions to enhance their product offerings and market presence.

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Global Single-arm Medical Pendant Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increase in Demand for Minimally Invasive Surgeries

      2. 1.2.2 Rising Number of Hospitals and Increase in Government Funding

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Medical Pendant Systems

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Application

      1. 2.1.1 Surgery

      2. 2.1.2 Anesthesia

      3. 2.1.3 Endoscopy

      4. 2.1.4 Others

    2. 2.2 By End User

      1. 2.2.1 Hospitals

      2. 2.2.2 Clinics

      3. 2.2.3 Other End Users

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Rest of World

Global Single-arm Medical Pendant Market Size FAQs

The Global Single-arm Medical Pendant Market is projected to register a CAGR of 6.30% during the forecast period (2024-2029)

Dragerwerk AG & Co. KGaA, Brandon Medical Co. Ltd, BeaconMedaes, Novair Medical and Steris PLC are the major companies operating in the Global Single-arm Medical Pendant Market.

Global Single-arm Medical Pendant Report Snapshots

Single-arm Medical Pendant Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)